Key facts
- Archer Aviation is acquiring Wisk Aero, its former rival in electric aircraft development.
- Boeing will receive a 16.5% ownership stake in Archer as part of the deal.
- The acquisition resolves a two-year trade secret lawsuit between Archer and Wisk.
- Wisk Aero was previously a fully-owned subsidiary of Boeing.
- Archer Aviation is also expanding into the defense sector with its Archer Defense program.
Archer Aviation has acquired its former rival, Wisk Aero, in a deal that sees Boeing divest the electric aircraft company and take an ownership stake in Archer. The transaction resolves a significant trade secret lawsuit that had previously strained relations between Archer and Wisk.
Under the terms of the agreement, Boeing will receive newly issued Archer shares, resulting in approximately a 16.5% ownership stake in Archer post-closing. This acquisition marks a capstone to the once-contentious relationship between the two companies developing electric vertical takeoff and landing (eVTOL) aircraft.
Wisk Aero's origins trace back to Kittyhawk, an electric aviation startup co-founded by Sebastian Thrun and backed by Google co-founder Larry Page. Kittyhawk, which ceased operations in September 2022, had several aircraft programs, including Cora, which was spun off into a joint venture with Boeing and later renamed Wisk. Boeing had invested heavily in Wisk, eventually making it a wholly-owned subsidiary.
Meanwhile, Archer, founded in 2018, has been expanding its eVTOL program, notably into the defense sector with its Archer Defense program. The company has secured substantial funding rounds and established partnerships, including a deal with Anduril to develop hybrid VTOL aircraft for defense applications. Archer recently completed a piloted flight for its Midnight aircraft, preparing for operations under the White House’s eVTOL Integration Pilot Program.